This pair is currently pushing down very strongly on the . But, it is coming into an area that I consider to be the Weekly . This is an area that the USDCAD has tested multiple times in the past as and is possibly an area that we could see a nice bounce out of this market. For that reason, I will be waiting for price to come into this area for possible long trades.
My short term outlook will be to short this pair towards the Weekly . I'll be looking for possible entries on the 1HR, 4HR Charts.
Weekly (Grey Area) = (1.31837-1.32572)